IVA Research
A collection of 135 posts
Fleeting Yields
Cash has been king this year. And yields on money markets are tempting but be aware that the current spike in municipal money market yields is likely to prove fleeting. Municipal Money Market’s (VMSXX) yield has more than doubled in December—rising from 1.72% to 3.60% (as
Heating Up?
Newton’s first law says that an object at rest stays at rest and an object in motion stays in motion with the same speed and in the same direction unless acted upon by an unbalanced force. [Emphasis added.] This is the idea behind momentum investing and our Hot Hands
Di-Worse-ified Equity
Is anything as painful as a bad mutual fund that compounds its mediocrity by paying out large capital gains distributions? Vanguard released its final estimates for the capital gains it expects its funds to pay this month, and one of the biggest is coming from one of Vanguard’s worst
How Clear Is Vanguard’s Crystal Ball?
Vanguard’s annual economic and market outlook has just been published and will no doubt garner some interest in part because it runs to almost 60 pages—long enough to suggest that it must be right. But quantity doesn’t always equal quality or accuracy! So, if you’re going
Yield Curve Flashes Yellow
One of Wall Street’s go-to recession warning signs—the yield curve—is flashing yellow right now. The media is all over it and the headlines sure sound scary. Since I too include the yield curve on my “recession dashboard,” let’s take a closer look at what it is,